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@AFP#BREAKING South Korean President Lee says 'doing utmost' for trade deal with US ahead of looming deadline
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South Korea’s Lee Warns US Tariff Deal Unlikely Before July 8 Deadline
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South Korean President Lee Jae-myung said on Thursday that negotiations with Washington aimed at averting renewed U.S. tariffs remain “very difficult,” adding he cannot guarantee an agreement before the July 8 deadline. Speaking at his first news conference since taking office one month ago, Lee stressed that Seoul is "doing its best" to secure a national-interest–centered, mutually beneficial outcome but acknowledged both sides are still clarifying what they want from the talks.
The discussions seek to extend or replace a 90-day pause in U.S. duties that is due to expire next week. Without a deal, South Korean exporters—including automakers, steel producers and chipmakers—could face tariffs of up to 25%, complicating Lee’s efforts to revive an economy already hit by weak consumption. Seoul is prepared to request an extension should negotiations slip past the deadline, according to trade officials.
Lee used the briefing to outline a broader “pragmatic diplomacy” agenda that balances tighter cooperation with the United States and Japan against efforts to improve ties with China, Russia and North Korea. He said he hopes to visit Japan at an early date to restart shuttle diplomacy with Prime Minister Shigeru Ishiba and expand collaboration on regional security issues such as Pyongyang’s nuclear program.
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